10 Best National Banks of 2019

A national bank is a commercial bank that is a member of the Federal Reserve system. A good national bank will typically offer a broader range of financial services than local or regional banks. On top of quality customer service, the top national banks also offer lower fees, higher interest rates and access to physical branches across the country. National banks are one-stop shops for many customers, particularly for those with higher-level financial planning needs, such as estate planning and wealth management.

Best National Banks of 2019

To to be considered, financial institutions needed to rank among the largest 72 brick-and-mortar banks in the country by asset size, according to the FDIC. Then, GOBankingRates used a number of factors to evaluate the top banks in the U.S., including checking account fees, savings interest rates, CD rates and the availability of services, such as auto and mortgage loans, credit cards, and investment and insurance services. Bank accessibility was evaluated based on overall geographic presence, mobile banking, and 24/7 customer service with a live person.

All of these national banks offer a range of services, including mortgage loans, auto loans, investment services, credit cards and insurance. Find out more about each of the top national banks to help you determine which bank is best for your financial needs.

Best National Banks of 2019

Bank

Checking Fee

Savings APY

12-Month CD APY

TD Bank

$6

0.05%

0.35%

First-Citizens Bank & Trust Company

$0

0.05%

0.15%

KeyBank

$0

0.10%

0.25%

Flagstar Bank

$0

0.10%

1.25%

Charles Schwab Bank

$0

0.50%

2.60%

SunTrust Bank

$7

0.01%

2.01%

Great Western Bank

$0

0.01%

0.25%

BBVA Compass Bank

$0

0.05%

1.85%

Bank of the West

$10

0.01%

0.12%

Branch Banking and Trust Company

$3

0.02%

0.10%

TD Bank

Why:TD Bank excels at customer service, with both physical branches and online banking, long branch hours and a wide range of product offerings.

Review: Although it might function as an online bank for certain customers, TD Bank has more than 1,200 branches located primarily on the East Coast, and the bank offers the longest branch hours of any of its geographic competitors. Branches open earlier and close later every day, and are even open on weekends and most holidays. Customer service is available 24/7.

Highlights:

Live customer service via a toll-free number

Mobile and web-based banking

Access to loans, lines of credit, treasury management services and more

Large branch network

Interest-bearing savings account

High APY CD options

How to Open: You can open a TD Bank account online, over the phone or in person at a branch.

First-Citizens Bank & Trust Company

Why: A totally free checking account — one of only six offered by the financial institutions on this list — helps place First-Citizens Bank & Trust Company among the top national banks.

Review: Free checking accounts can be found at many online banks, but national banks often charge fees to help offset the costs of additional services. First-Citizens Bank offers a full-service checking account with no fees and no minimum balance requirement, as long as customers accept e-statements. Four additional checking accounts are available with no fees if further requirements are met. The bank also offers a free savings account option.

Highlights:

More than 500 physical branches

Nearly every type of financial service is available, from savings accounts to auto and home loans, insurance and investment products

Online and mobile capabilities

How to Open: You can open a First-Citizens Bank account online or over the phone with your driver’s license, home address, Social Security number and funding details, such as a bank account number.

KeyBank

Why: A perennial contender in GOBankingRates’ Best National Banks ranking, KeyBank features no-fee checking, a network of 1,300 ATMs and a variety of financial services.

Review: Like most of the contenders, KeyBank serves customers in all of the major product categories, from loans and mortgages to credit cards, investing and insurance, savings and CDs, and other banking services. The bank’s no-fee checking account, just one of a few checking options, provides a free debit card and allows for online bill payment.

Highlights:

KeyBank Relationship Rewards program, which allows customers to earn points based on everyday banking activities that can be redeemed for gift cards, travel rewards, cash, charity donations, electronics or merchandise

Online and mobile banking features

Feature-rich website

Community orientation

How to Open: Accounts can be opened online. The bank has a customer service line and online chat available for assistance.

Flagstar Bank

Why: Flagstar Bank was chartered in 1987 but now boasts over $18.7 billion in assets, making it one of the largest national banks and the third-largest savings bank in the nation.

Review: Flagstar Bank has a range of interest-bearing accounts, from checking and savings to money market and CD accounts. The bank operates 108 branches in Michigan and California. Flagstar is known for being a community-oriented bank.

How to Open: Flagstar customers must find a bank branch to open an account. A branch locator is available on the website.

Charles Schwab Bank

Why:Charles Schwab Bank has evolved from an online brokerage firm into a full-service bank, with low fees and high rates across most product lines.

Review: Those looking to park savings in a full-service national bank won’t do much better than Schwab, which offers accounts that pay high rates and charge no fees. The bank also offers a no-fee checking account that pays an above-average rate. Bank accounts at Schwab link seamlessly with the investment side of the firm.

Highlights:

High 12-month CD APY

High savings rates

Strong investment services, including mutual funds and ETFs

Recognized as a low-cost leader and a pioneer of online financial services

How to Open: Accounts can be opened online in about 10 minutes, or you can visit a branch. You’ll need a Social Security number and your employer’s name and address, if applicable, to open an account.

SunTrust Bank

Why:SunTrust Bank offers a complete line of financial services, including no-fee accounts, a rewards program and online features.

Review: SunTrust’s four consumer checking accounts all have a monthly maintenance fee, but it can be avoided in every instance through qualifying activities, such as direct deposits or debit card usage. All of the checking accounts offer cash rewards. Rates on CDs at this bank are also among the best in GOBankingRates’ Best Banks of 2019 study.

Highlights:

Access to free FICO score

Mobile and online banking

Over 2,000 fee-free SunTrust ATMs

Access to 1,200 branches

How to Open: Bank accounts can be opened online in about five minutes with personal information, identification, account funding information and co-applicant information, if applicable. All applicants must be U.S. residents at least 18 years of age. Customers can also visit a branch to open accounts.

Great Western Bank

Why:Great Western Bank epitomizes what customers usually look for in a bank: low fees, high rates and great service.

Review: Great Western Bank has not one but two no-fee checking accounts, along with savings accounts, credit cards, IRAs, numerous investment options and high-rate CDs.Customer service lines are open on Saturdays, in addition to having long hours during the business week. The bank also has a dedicated agribusiness division, providing lending and insurance.

How to Open: Accounts can be opened online or in a branch with the customer’s Social Security number, valid government ID and a funding source. Customer service is available to help with any account-opening questions.

How to Open: You can open an account with BBVA Compass online by providing personal information, such as your name, address, date of birth and Social Security number, along with a valid ID, such as a passport or driver’s license. You’ll also need to fund your account with your banking information.

Bank of the West

Why: With over 135 years of banking history,Bank of the West combines a broad, customer-focused product line with modern-day conveniences, such as a mobile app and flexible checking products.

Review: At $10 per month, Bank of the West’s checking account fee is the highest of any bank on this list. However, this fee is easily waived by making a deposit at any time during the month. Customers with larger balances might enjoy the services of the bank’s Premier Checking product, which has no monthly fee and charges no ATM withdrawal fees worldwide. The bank also offers a range of traditional banking products, from loans and investments to credit cards.

Highlights:

Make a deposit any time to avoid monthly checking charges

Free global ATM withdrawals with Premier Checking, including rebates of other banks’ charges

Branch Banking and Trust Company

Why: With a great mobile banking app and almost any banking service imaginable,Branch Banking and Trust Company earns a place in GOBankingRates’ ranking of the Best National Banks of 2019.

Review: Branch Banking and Trust, often referred to as BB&T, has a checking account for almost anyone, from customers over 55 who might need elite services to students with simple banking needs. Any accounts that have fees also offer ways to avoid them through minimum balances, direct deposits or other qualifying activities. ATM withdrawals are free at any of BB&T’s over 3,100 terminals.

Highlights:

Wide-ranging product line

Online personal finance management tool

How to Open: Accounts can be opened easily online. You’ll need your Social Security number, government-issued ID and opening deposit, including your bank account or payment card details.

Methodology: To determine its Best National Banks category ranking, GOBankingRates examined the top 72national brick-and-mortar banks by asset size according to the Federal Deposit Insurance Corp., excluding non-active institutions, investment banks and any institutions that require customers to use investment services to access commercial bank accounts.

Criteria for ranking: GOBankingRates scored the banks from most to least favorable on the following factors: (1) checking account fee, (2) savings account annual percentage yield, (3) 12-month certificate of deposit APY and (4) BauerFinancial Star Rating for overall financial strength. Banks were then scored according to whether they offered each of the following services, all of which contributed to a single weighting: (5) auto loans, (6) mortgage loans, (7) credit cards, (8) investment services and (9) insurance services. Next, banks were scored according to accessibility factors: (10) overall geographic presence, (11) mobile banking and (12) 24/7 customer service with a live person. Banks were then ranked according to their total score and then by the specific number of states they have physical branches in.

Data was compiled from and verified against BauerFinancial and the individual institutions’ websites between Sept. 21 and Oct. 22, 2018. To determine the Best Banks of 2019, GOBankingRates considered the banks’ rates at the time the research was conducted; however, rates that appear in the articles are accurate as of today. Rates, terms and conditions are subject to change at the discretion of the individual financial institutions. Please verify terms and conditions before opening an account.

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